Solana (SOL) found a floor near $90 over the past session and has since trimmed some of its losses. But the recovery looks tentative. The token is trading below $94 and the 100-hourly simple moving average, with a bearish trend line forming on the hourly chart that caps upside moves near $92.90.
Support at $90 holds for now
After dipping to the $90 zone, SOL started a recovery wave above $91 and $92 against the US dollar. That level acted as a springboard for a modest bounce. Yet the price has not been able to sustain momentum above $94, a level that has turned into near-term resistance. On the hourly chart of the SOL/USD pair on Kraken, the token is consolidating in a tight range, suggesting traders are waiting for a clearer signal.
Resistance cluster near $92.90–$93.60
The immediate hurdle sits at $92.90, reinforced by the aforementioned trend line. A second layer of resistance lies at $93.60, which coincides with the 61.8% Fibonacci retracement level of the recent decline. A close above $93.60 would bring the main resistance at $94 into play. If SOL can break and hold above $94, the next targets are $96 and then $98.
MACD and RSI flash caution
Two widely watched momentum gauges are not backing the bulls. The hourly MACD is gaining pace in the bearish zone, meaning downward pressure is building rather than fading. Meanwhile, the hourly Relative Strength Index (RSI) is below the 50 level, a reading that typically indicates sellers have the upper hand in the short term.
What happens if $92.90 doesn't break?
If Solana fails to push above $92.90, a fresh decline is likely. Initial support sits at $91.30. A break below that would open the door to a retest of the $90 support zone. Losing $90 could accelerate selling — a move under that level might send the price to $84, with an intermediate stop at $88. A close below $88 would confirm the breakdown.
